India Tightens Silver Import Rules, DGFT Nod Now Mandatory After 157% Surge
Government mandates DGFT authorisation for silver imports routed via banks, RBI-nominated agencies and IIBX qualified jewellers. Move follows 15% duty hike after April imports surged 157% YoY to $411M. Tanishq, Kalyan and other jewellery retailers face tighter sourcing as FY26 imports near $12B.
Government tightens silver import rules, mandating DGFT authorisation for imports routed via banks, RBI-nominated agencies and IIBX qualified jewellers. Follows duty hike to 15% as silver imports surged 157% in April, impacting jewellery retailers like Tanishq, Kalyan.